December closed with plenty of interesting condo activity. And, much of it was on par with positive indicators. Although, some areas of activity leveled out or shrank some. At the same time, some ups and downs are common. As a result, San Mateo County December 2020 condo activity is simply another reflection of quite a dynamic real estate market.
Like December 2020 single family, resale homes, resale condo sales rose. And, they were up by 18.6% year-over-year (YoY). In fact, they were also up by 10.2%, from November. At the same time, condo inventory rose to 34.9% (YoY). Although, it was down compared to November, by 32.5%.
In contrast to sales, median sales price for resale condos fell. And, it fell 14.6% YoY. At the same time, it was down by 9.9% from the previous month.
San Mateo County December 2020 Condo Activity Update
San Mateo County December 2020 condo activity gives us some insight. It lets us know what 1st quarter may have in store. And, it lets market experts, buyers and sellers gauge their planning in the new year. As a result, it pays to get a good sense of how the market fared. It makes sense to review more points of activity.
It’s key to know how many condos were for sale in December. And as of January 5th, there were 170 in San Mateo County. It’s an interesting total, when compared to the overall average. In fact since January 2003, the average is 350.
As for days of inventory, it took a dip. And, it dipped by 22 points. In fact, days of inventory for condos went from 58 to 36.
When it comes to selling a condo, days it takes are averaged, just like single family homes. And, December condo selling took under 40 days. In fact, the days averaged around 37. That said, are you planning to sell your condo? Now may be the best time to start the process. In fact, indicators point to continued up trends, in condo sales. As a result, why not contact a market expert and home selling pro? Why not give Carmen Miranda a call today? Also, why not ask for her free, comparative market analysis?